The Finance Department is tasked with supervising the funding for municipal services while upholding the integrity and accountability of the Town's fiscal operations.
The Chief Financial Officer (CFO) manages the Town's cash flows by depositing cash receipts promptly, ensuring that all financial claims are properly disbursed, maximizing return on excess cash through approved investment vehicles, administering payroll and employee benefits, and recording financial transactions in a timely and accurate manner.
The CFO directs the preparation of the annual municipal budget by developing practical revenue estimates and coordinating the funding needs of all departments for each Calendar Year. This information, along with timely projections serve as a tool for the Mayor and Council to formulate responsible fiscal plans. Capital expenditures are regularly reviewed to determine the correct timing for the issuance of debt so that the impact on future budgets can be minimized.
The Town’s accounting records and fiscal operations are examined each year by independent auditors.